Slerf Price Prediction as Solana Meme Coin Sees $1.4 Billion Trading Volume in 24 Hours – Can it Overtake Shiba Inu?
The Slerf (SLERF) price is pulling back on Wednesday, as traders take profit following the new Solana meme coin’s huge run-up since its launch on Monday.
Slerf (SLERF), a sloth-themed meme coin, was last changing hands around $0.69 on Solana DEX Raydium, as per DEXTools.
That gives the newly launched meme coin a massive market cap of around $340 million.
Its trading volumes on Raydium in the past 24 hours were north of $500 million. But that doesn’t account for trading volumes on centralized exchanges (CEX).
As per CoinMarketCap, SLERF volumes across DEX and CEXs was more than $1.4 billion in the past 24 hours.
Still up more than 30x versus its DEX launch price, the Slerf price is vulnerable to more profit-taking-driven downside.
A clean break below $0.69 short-term support could open the door to a quick drop to the $0.35 level.
But Slerf has certainly caught the imagination of the Solana meme coin investing community.
The token has already amassed a following of 86,000 on its X (formerly Twitter) and 27,000 on its Telegram.
Medium-term Slerf price predictions are likely to remain bullish, with some questioning if Slerf can overtake Shiba Inu (SHIB).
Shiba Inu’s market cap was last around $15 billion. That’s around 44x larger than Slerf’s.
Can Slerf close this gap and deliver huge gains to its current holders?
Well, nothing is impossible in crypto. Whether Slerf catches up to Shiba Inu depends on a few factors.
Firstly, Slerf will need to see continued explosive growth in the size of its community.
Shiba Inu has over 3.8 million X followers. That’s around 42x greater than Slerf’s following.
Slerf is likely also going to need to start pushing projects designed to increase the utility of its token.
The Shiba Inu team/community last year
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